Blackstone Inc. is buying a majority stake in Geosyntec Consultants, an engineering and consulting firm that shapes waterways, coastlines, dams and power grids.
The world’s largest alternative asset manager is wagering that more companies and states will need hydro-geologists and engineers to navigate climate regulations and understand their impact on the environment. Blackstone’s $380 million equity infusion values Geosyntec at more than $750 million, according to people familiar with the matter.
Blackstone and other private equity firms are betting the shift will endure. Global investment in energy transition rose to a record $755 billion last year, according to data compiled by Bloomberg.
Read more: BNN Bloomberg
